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Shocker! The exit polls were completely wrong in predicting the outcome of the Indian election. Not only that Narendra Modi’s BJP couldn’t secure a landslide victory in the latest elections – as it was suggested by Monday’s polls, but it couldn’t even win enough seats to secure a majority in the parliament. Its focus on […]

The post Oil Consolidates Near Critical Support – BoC to Announce First Rate Cut appeared first on Action Forex.

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15/08/2024

Retail Sales Is Counterprogramming the Job Report

Summary In the month of July retailers saw a sales increase of $6.8 billion, or 25% of the total gain from the prior two years in a single month. While most of that was an autos bounce after an ugly June, gains were broadly based and thus at odds with reports of a more cautious […]
13/03/2024

XAUUSD: In Bearish Correction With Key Levels on H4

Bullish scenario: Intraday buys above 2160.00 with TP: 2171 and TP2: 2177, with S.L. below 2155.00 or at least 1% of account capital*. Apply trailing stop. Bearish scenario: Sells below 2177 with TP1: 2150, TP2: 2142, and 2126 with S.L. above 2185 or at least 1% of account capital*. Scenario from the H4 chart: The […]
04/09/2024

Bank of Canada Cuts Rates Again, Signals More to Come

The Bank of Canada (BoC) cut its overnight rate by 25 basis points, to 4.25%, while stating that it will continue with Quantitative Tightening (QT). The Bank noted the recent softening in economic data, affirming that “preliminary indicators suggest that economic activity was soft through June and July” and that “the labour market continues to […]